Tower Bridge Advisors reduced its stake in McDonald's Co. (NYSE:MCD) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,973 shares of the fast-food giant’s stock after selling 2,592 shares during the period. McDonald's accounts for about 2.3% of Tower Bridge Advisors’ holdings, making the stock its 6th biggest position. Tower Bridge Advisors’ holdings in McDonald's were worth $20,994,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Tredje AP fonden increased its stake in McDonald's by 26.7% in the second quarter. Tredje AP fonden now owns 120,490 shares of the fast-food giant’s stock valued at $18,454,000 after purchasing an additional 25,380 shares during the last quarter. Beaton Management Co. Inc. purchased a new position in McDonald's in the second quarter valued at approximately $555,000. Buckingham Asset Management LLC grew its position in shares of McDonald's by 157.5% during the second quarter. Buckingham Asset Management LLC now owns 18,973 shares of the fast-food giant’s stock worth $2,906,000 after acquiring an additional 11,604 shares during the last quarter. Navellier & Associates Inc grew its position in shares of McDonald's by 47.7% during the second quarter. Navellier & Associates Inc now owns 25,400 shares of the fast-food giant’s stock worth $3,890,000 after acquiring an additional 8,200 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of McDonald's by 6.8% during the second quarter. Prudential Financial Inc. now owns 2,805,231 shares of the fast-food giant’s stock worth $429,649,000 after acquiring an additional 179,334 shares during the last quarter. Institutional investors own 68.59% of the company’s stock.
A number of equities analysts have recently issued reports on MCD shares. Zacks Investment Research upgraded shares of McDonald's from a “hold” rating to a “buy” rating and set a $196.00 target price on the stock in a research report on Thursday, January 18th. Stifel Nicolaus set a $172.00 target price on shares of McDonald's and gave the stock a “neutral” rating in a research report on Wednesday, January 3rd. Piper Jaffray Companies raised their target price on shares of McDonald's from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Goldman Sachs Group set a $200.00 target price on shares of McDonald's and gave the stock a “buy” rating in a research report on Friday, January 19th. Finally, Credit Suisse Group restated an “outperform” rating and set a $175.00 target price (down from $191.00) on shares of McDonald's in a research report on Tuesday, March 6th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $183.02.
McDonald's (NYSE:MCD) last released its earnings results on Tuesday, January 30th. The fast-food giant reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.12. McDonald's had a negative return on equity of 201.76% and a net margin of 22.75%. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the company earned $1.44 earnings per share. McDonald's’s quarterly revenue was down 11.4% compared to the same quarter last year. equities research analysts expect that McDonald's Co. will post 7.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Wednesday, February 28th. McDonald's’s dividend payout ratio (DPR) is currently 55.88%.
In other McDonald's news, insider Douglas M. Goare sold 34,575 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $173.53, for a total value of $5,999,799.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine A. Hoovel sold 1,398 shares of McDonald's stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $170.54, for a total value of $238,414.92. Following the transaction, the vice president now directly owns 1,398 shares of the company’s stock, valued at approximately $238,414.92. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION NOTICE: This story was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2018/03/14/tower-bridge-advisors-has-20-99-million-holdings-in-mcdonalds-co-mcd.html.
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
Receive News & Ratings for McDonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's and related companies with MarketBeat.com's FREE daily email newsletter.